The flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has made a bold promise to deliver a reliable and efficient power system if elected into office.
This system is designed to underpin his proposed 24-hour economy policy, which he believes will drive economic growth and enhance productivity by ensuring that businesses and services remain accessible to consumers around the clock.
In a statement addressing energy sector stakeholders in Accra, Mahama emphasized his commitment to aligning power generation with projected demand. He noted that his administration would prioritize addressing reserve requirements to guarantee a stable, uninterrupted power supply, which is critical for achieving the 24-hour economy goal.
A central pillar of Mahama’s energy plan is the expansion of clean energy. He reaffirmed his dedication to making significant strides in the country’s energy transition by increasing the share of clean energy in Ghana’s power generation mix. He aims to boost the contribution of non-hydro renewable energy to 10%, a goal that will be achieved through fiscal and regulatory incentives aimed at encouraging investment in green energy sources.
Mahama highlighted that ensuring reliable and affordable energy is vital for businesses to operate continuously. One of the key strategies he proposes is the implementation of a time-of-use tariff system. This system will enable businesses to benefit from more affordable and stable electricity, particularly during off-peak hours, allowing them to optimize operations throughout the day and night. Such an approach, Mahama believes, will contribute to the efficiency and competitiveness of Ghanaian businesses in a global market.
Mahama also pledged to manage the Energy Sector Levies Act (ESLA) revenues with transparency. He stressed the importance of strictly adhering to the cash waterfall mechanism to ensure accountability within the energy sector. According to him, the proper management of ESLA revenues is crucial to maintaining public trust and ensuring that funds are used effectively to improve the sector’s performance.
One of the major challenges the energy sector faces is technical and commercial losses, which Mahama promised to tackle head-on. He plans to partner with local entrepreneurs to reduce these inefficiencies, ensuring that the energy system operates at a higher level of reliability. By addressing these losses, his administration aims to deliver more consistent and cost-effective energy to consumers and businesses.
He also noted the importance of providing budgetary provisions for the power consumed by government agencies. A common challenge in the sector has been delayed payments, which affect the overall sustainability of energy providers. Mahama committed to ensuring that payments for energy consumed by government bodies are made promptly, which would improve cash flow within the sector and promote a more reliable energy supply.
In his speech, Mahama reiterated the significance of aligning energy policies with Ghana’s broader energy transition agenda. He pointed out that the move towards clean energy is not just about meeting current demands but also about preparing for the future. By increasing the role of renewable energy sources, Mahama’s administration would be positioning Ghana as a leader in the African energy transition, contributing to global efforts to combat climate change while enhancing the nation’s energy security.
Furthermore, Mahama stressed that the effective implementation of his energy policies would require collaboration between the public and private sectors. He called on local entrepreneurs to be part of the solution, emphasizing the need for innovative approaches to tackle the challenges in the energy sector. By fostering these partnerships, Mahama aims to create a more dynamic and resilient energy system that can support the demands of a 24-hour economy.
The former president’s promises reflect a deep understanding of the critical role energy plays in economic development. A reliable power supply is the backbone of any thriving economy, and Mahama’s vision for a 24-hour economy hinges on the availability of electricity at all times. His plan is designed to not only improve the current state of Ghana’s energy sector but also to position the country for long-term success by integrating more sustainable energy solutions.
Mahama’s emphasis on transparency, accountability, and efficiency resonates with the growing calls for reforms in the energy sector. His commitment to the cash waterfall mechanism, in particular, signals a desire to ensure that revenues are properly accounted for and used in ways that directly benefit the energy infrastructure. This approach would help prevent the financial mismanagement that has plagued the sector in the past, giving businesses and consumers greater confidence in the future of Ghana’s energy supply.
In addition to his energy policies, Mahama touched on the broader implications of the 24-hour economy for the country’s development. By creating an environment where businesses can operate at any time, he believes Ghana can unlock new opportunities for growth and innovation. This approach could lead to increased employment opportunities, particularly in sectors such as manufacturing, services, and retail, where around-the-clock operations would become feasible.
In conclusion, John Dramani Mahama’s vision for a 24-hour economy is firmly rooted in the provision of a reliable and efficient power system. His plans to expand clean energy, introduce a time-of-use tariff system, reduce technical and commercial losses, and ensure the transparent management of ESLA revenues all point to a comprehensive approach to reforming the energy sector. If elected, Mahama’s energy policies have the potential to transform the way businesses operate in Ghana, driving economic growth and enhancing the quality of life for all citizens.
